On October 22nd, the data product 'Zhiyi - Multilingual Parallel Corpus' has officially completed the entire process of compliance, evaluation, listing, entry into the table, pledge, credit, New Translated Technology has obtained a 10 million yuan loan from Bank of Communications.

The data asset financing project of New Translated Technology is the first project in the country to use the 'market method' as the method for assessing the value of data assets and to successfully obtain an actual loan.

Different from the 'cost method', the market method mainly adopts the substitution principle, compares the object to be evaluated with similar transaction instances that have occurred recently, and corrects the evaluation method of the object to be evaluated based on known prices, and the quality, supply and demand differences of the data assets.

The landing of the data asset project assessed by the 'market method' this time is the actual progress made by the industry under the continuous catalysis of policies. Properly assessing the value of data is the key foundation for unleashing data value.

The recently released 'Opinions on Accelerating the Development and Utilization of Public Data Resources' and the 'Trusted Data Space Development Action Plan (2024-2028)' clearly propose financial support for key areas of data elements, the market expects that financial subsidies for the data elements industry will be introduced.

Institutions are most bullish on the two links of data infrastructure and public data authorization operation. The former is the material foundation, the first to start and scale, and the latter is the landing practice, with a good business model and great imagination space.

Changjiang Securities stated in its research report that the specific rules for the national integrated data market are expected to be gradually improved in the near future. Previously, the National Bureau of Statistics has stated that this year it will successively introduce policies related to data property rights, data circulation, revenue distribution, and so on. With the successive introduction of relevant policies, it may promote the development of the data market into a new stage.

CNI Data Factor Index-related Hong Kong stocks include:

GDS Holdings-SW(09698): While the company is accelerating the construction and operation of overseas data centers, it actively signs contracts with overseas electrical utilities to ensure stable power supply. In addition, the company deepens cooperation with overseas technology companies to explore fuel cell power solutions. After 2016, the company further expands the coverage of data centers in core cities in China, including the Jing-Jin-Ji region, the CNI Yangtze Index region, the central China region, the South China Greater Bay Area concept, Inner Mongolia region, and the southwestern region. Since 2021, the company has started laying out in Southeast Asian markets including Singapore, Malaysia, Indonesia, gradually forming a Singapore-Johor-Batam Island strategic area. In 2024, the company is expanding into Fujichu City, Japan, entering the Northeast Asia data center market.

Vobile Group (03738): Vobile, while mastering core patented technologies such as genetic digital fingerprints and watermarking in the film and television industry, actively explores the emerging opportunities for digital content rights confirmation, digital content asset protection, and transactions in new scenarios in line with the development trends of Web3.0 and AI.

China Literature (00772): In 2023, the China Literature online reading platform added approximately 0.38 million new writers and 0.67 million new novels, with an additional word count exceeding 39 billion. Among them, new writers have shown outstanding performance, with a 60% year-on-year growth in the number of new writers whose total income exceeded 100,000 RMB in 2023; in the new books with income exceeding one million RMB in 2023, works by new writers account for nearly one-third; and the quantity of works subscribed by post-00s writers with over ten thousand orders has increased by 230% year-on-year. China Literature optimized its online business channels last year, and the expected impact of this optimization is gradually weakening. With the optimization of distribution channels and a shift in operational focus towards high-consumption, high-quality user groups, institutions believe that the company's revenue will regain growth this year.